介绍:
China, S.Korea, Japan start 4th FTA talks
China, South Korea and Japan have started the fourth round of negotiations on a trilateral free trade agreement (FTA) in Seoul.
Chinese deputy Wang Shouwen,
"I noticed that we have a very tight schedule for this round of negotiations with a good five or six working group meetings taking place simultaneously every half-day. I can assure Mr. Woo and Mr.Yasumasa that my delegation will spare no efforts in working closely with you in the following days. And I have every reason to believe that with the joint efforts of our three teams we can make solid progress in this round of negotiations."
The fresh round of negotiations are to focus on tariff reductions, the opening up of the services trade, and cross-country investment.
The FTA is expected to create one of the world's largest markets, as the three countries together account for 21% of the world GDP.
Leading Japanese deputy Yasumasa Nagamine
"Japan always regards this CJK FTA as one of the important negotiations for us to realize open economic integration in the area of Asia and Pacific region, and to realize the FTAAP in the end. That is why we are actively engaged in this negotiation in addition to the RCEP negotiation and the TPP negotiations."
South Korea's Trade Minister Yoon Sang-jick said yesterday that he was confident of the talks "moving toward a conclusion."
South Korean farmers had previously expressed their opposition of the trilateral FTA, fearing that it would result in products flooding the market and depressing prices.
This is the first round of negotiations since talks were held between the three countries in Tokyo last year.
China's mounting corporate debt; higher refunding costs
Anchor:
With corporate debt in China hitting record levels, it's being suggested credit repayment difficulties are likely to lead to a sharp increase in restructuring through mergers and acquisitions.
Through the course of last year, non-financial Chinese companies have held outstanding debt worth some $12-trillion US dollars, which is the the equivalent of 120 percent of this country's GDP.
The growth of Chinese corporate debt is said to be unprecedented among any industrialised economy.
A Reuters survey of 945 companies showed their total debt has surged by 260-percent between December 2008 and last September.
As such, many observers are expecting this year will see a growing number of companies selling their assets and entering into mergers into an attempt to try to avoid default.
For more on the situation CRI's Paul James earlier spoke to Gao Shang, analyst at Guantong Futures.
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That was CRI's Paul James speaking with Gao Shang, analyst at Guantong Futures.
China's Central Bank launches Forward Repo
China's central bank is launching a forward repurchase operation (repo) to maintain the interest rate in the capital market at an appropriate level.
On Tuesday, the People's Bank of China announced an issue of 14-day and 28-day forward repurchase agreements, which will together withdraw 85 billion yuan from the money market.
It is the fifth straight time the central bank has launched repos since Feb. 18, with 365 billion yuan moved from the capital market.
CNOOC licensed to seek Arctic oil
China's largest offshore oil and gas developer, CNOOC, has become the first Chinese firm licensed to look for oil in the Arctic.
CNOOC has partnered with Iceland's Eykon Energy in an application for a license to operate in Arctic waters.
Iceland's national energy authority granted the license to CNOOC, Eykon and another Icelandic firm last month.
As global fuel consumption increases, international oil and gas players are actively seeking large-scale untapped resources to replace the North Sea oil production region.
China coal demand to peak at 4.7 billion tonnes in 2020
China's coal demand will peak in 2020 at about 4.7 billion tonnes, according to the Coal Industry Planning and Design Research Institute.
A new report released on Tuesday states that China's coal demand is projected to grow at 3.9 percent annually before 2020 before beginning its decline.
Annual coal demand would drop to 4.56 billion tonnes in 2030 and coal producers are advised to adapt their investment strategies in accordance with the figures.
China's coal consumption witnessed a slower growth of 2.6 percent year on year to 3.61 billion tonnes in 2013, according to the China National Coal Association.
U.S. Senate Energy Committee member suggests lifting US crude oil ban for political leverage
A U.S. senator is calling for a lift on the 40-year-old ban on crude oil exports.
Lisa Murkowski, ranking member of the U.S. Senate Energy Committee, says the US should seek to use the resource as a strategic asset for political and diplomatic leverage.
Murkowski made the remarks at the opening speech of the IHS CERAWeek conference in Houston, one of the country's top annual gatherings of energy industry leaders.
She laid out a step-by-step plan for renovating U.S. energy policy, including streamlining regulations on condensate export permits and expanding exceptions.
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